The exchange rate of the Euro with the Lek has marked a significant increase on Friday. According to the official exchange rate of the Bank of Albania, the Euro was exchanged for Lek 100.19 on Friday, reaching the highest level since August 5. 
After a gradual decline that started from that date, the euro dropped to the historical minimum of Lek 99.6 on August 20. 
In the last three days, the Euro exchange rate returned to growth, while on Friday it crossed the Lek 100 limit again, reaching close to the levels where it has remained with a kind of stability throughout the summer season.  
However, this stability has been the result of the continuous presence in the market of the Bank of Albania. 
From May, the central bank intervened with direct purchases in the foreign exchange market to prevent a further drop in the exchange rate. According to the Bank of Albania, a further strengthening of the Lek would be detrimental to the inflation target. 
In the first half of this year, inflation fell below the central bank's 3% target. According to INSTAT, in July the annual inflation was at the level of 2.1%. 
However, in recent weeks, the Bank of Albania seems to have withdrawn from controlling the exchange rate and did not intervene even after the Euro fell below the symbolic limit of Lek 100 for the first time. 
According to foreign exchange agents, the increase on Friday is not related to the intervention of the Bank of Albania, but to a temporary increase in market demand for currency. The rapid and short-term growth of the Euro exchange rate has been frequent in recent years, especially in the periods following its drastic declines. 
A low exchange rate of the Euro creates an incentive to take advantage of the moment and buy, from entities that may need currency in their activity. Even Friday's increase seems to have such characteristics. 
The increase in the exchange rate of the Euro is also reflected in the exchange rate of other main currencies against the Lek. Even the US dollar returned on Friday above the level of Lek 90. 
In fact, in the historical dynamics of the exchange rate, an upward shift in the exchange rate after the peak of the summer season is more or less expected, due to the decrease in foreign exchange supply related to tourism. 
However, in recent years, the progress of the course has become less predictable, for several reasons.